On Thursday, the KLCI fell 5.29 points or 0.34%, to close at 1570.94 points. As indicated by A, the KLCI is now testing the 14, 21, 31 EMA dynamic support as well as the L2 line. Coincidentally, this is also the level of the 1566-1570 support. If the KLCI should break below this level, the immediate technical outlook would turn negative, and the next support is at 1535.

As indicated by B, total market volume remains below the 40-day Volume Moving Average, and remains lackluster, as the market sentiment is still at caution.

As indicated by C, the MACD histogram is still falling, while the Rounding Top signal remains intact. This suggests that the KLCI short-term is still losing strength, while consolidating.

In conclusion, the KLCI is still consolidating, but if the KLCI should break below the 14, 21, 31 EMA, the KLCI could resume its L1 downtrend. Nevertheless, the performance of the regional markets remains as the major catalyst to the KLCI performance.